What is the first thing I should do when I want to pay off my debt?

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  • DIANA PIZZULLI – Mortgage Loan Originator



  • You have made a New Year’s resolution to finally get your finances in order. But do you know what your financial picture looks like? Get your credit reports from the “big three.”

    These are free (www.annualcreditreport.com). This gives you a starting point and it also enables you to be sure there is nothing on there that shouldn’t be on there (fraud, identify theft, etc.).

    You may also find debts on there that you had forgotten about such as collection accounts. Getting a copy of your credit report will also show you where your scores are. High balances on your revolving accounts negatively affect your score. Paying these down (below 40%) can greatly increase your scores.

    Once you have a plan of attack, monitoring your progress as you steadily pay off your debts will give you confidence and encourage you to stick to your New Year’s resolution.



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